Probate

The death of a relative or loved one is a difficult time. What follows in dealing with the deceased’s estate (Probate) can be daunting at a sensitive time.

KFMG Probate Services offer you a helping hand.

KFMG Probate Services are specialists in sympathetically assisting the executors in all aspects of the deceased’s estate. Our aim is to simplify the process of dealing with estate administration, and relieve you of the administrative burden of the financial side of bereavement.

Probate is essentially the calculation of the deceased’s assets and liabilities, including all possessions & property.

Generally, inheritance tax is due if the inheritance threshold is exceeded. Probate needs to be dealt with as painlessly and efficiently as possible, whilst minimising the Inheritance Tax liability.

KFMG Probate Services help many ease this burden, and offer specialist valuation and house clearance services as follows:

Property Valuation

Normally the largest single asset is the property and buildings of the deceased. Nowadays HMRC (Her Majesty’s Revenue & Customs) advise that a property valuation should be undertaken by an RICS registered valuer. Consideration must be given to the basis of valuation for Inheritance Tax as per section 160 of the Inheritance TaxAct 1984.

KFMG Probate Services specialise in property valuation with a team of RICS Registered Valuers, who can potentially save the estate thousands of pounds in Inheritance Tax without query from the HMRC, meaning less delay in the granting of probate.

Home Contents and Chattels Valuation

Chattels are the ‘everyday’ assets such as jewellery, furniture, art and ordinary possessions. These are distinct from property assets such as flats and houses, and investments such as stocks and shares. It is advisable to have a written valuation of contents and chattels as part of the probate process.

Our experienced valuers provide clear and concise valuations in accordance with HMRC guidelines. Items listed in a will and generally higher value items are individually valued. This is relevant both to Inheritance Tax Liability and the distribution of any chattels referred to in the will.

House Clearance

KFMG Probate Services offer a range of house and flat clearance services. Whether it is one item or a whole house, we can minimise the hassle and effort that goes with house clearance. Our contractors have all the experience and resources required to carry out all kinds of clearance work. If you require the removal of household goods and waste, so that your property is left clean, tidy, and empty for sale, or transfer to a landlord, we can help.

Preparation and Submission of Inheritance Tax Return

In order to finalise the Estate, the Inheritance Tax Liability and Inheritance Tax Return must be prepared and submitted. This needs to be done correctly to ensure no more tax is liable than necessary. Our Chartered Accountants, have the expertise to carry out this work with a view to Grant of Probate being finalised without undue delay.

Why use KFMG Probate Services?

We know that all the arrangements and details involved with Probate are challenging, particularly at the sensitive and difficult time of bereavement.

Our staff are friendly, sympathetic and here to help, and offer a first rate service.